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NTR Asset Management Europe DAC

PRI reporting framework 2020

You are in Organisational Overview » Basic information

Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

Select the services and funds you offer
% of asset under management (AUM) in ranges
Fund management
Fund of funds, manager of managers, sub-advised products
Other
Total 100%

Further options (may be selected in addition to the above)

01.2. Additional information. [Optional]

NTR (www.ntrplc.com) is a renewable energy investment management group that acquires, constructs and manages assets on behalf of itself and third parties. NTR currently has two funds: a €210m onshore wind fund in UK and Ireland (now closed), and a €500m target on-shore wind, solar and energy storage fund in Western Europe (open to investors). NTR as an asset manager brings sectoral expertise, financing capability and operational management to its clean energy investments.

Key aspects of our investments are:

  • On-shore wind, solar and energy storage projects located in Ireland, UK and Western Europe.
  • Investments are typically in a combination of ready to build and operating assets.
  • Assessments, acquisition, construction and asset management functions are carried out by a combination of our internal experts (investment, financial and technical), together with the use of outside advisors.
  • Our funds comprise a diversification of technology and geography.
  • All investments are independently evaluated by our Advisory Committee who advise each fund’s board on each investment opportunity.
  • Each fund’s board comprises a combination of fund representatives, senior members of the NTR Asset Management team and independent directors.
  • All investment opportunities undergo ESG evaluation including an ESG Exclusion Checklist as part of their evaluation.
  • All investments comply with relevant statutory planning, environmental, labour and fiduciary requirements and best practice.

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Ireland

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

31 FTE

02.4. Additional information. [Optional]

32 Full Time Equivalents including 3 full time consultants.


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

NTR does not have subsidiaries within our organisaiton that are also PRI signatories in their own right.


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/03/2019

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.4. Indicate the assets which are subject to an execution and/or advisory approach. Provide this figure based on the end of your reporting year

04.5. Additional information. [Optional]

NTR defines Assets Under Management (AUM) as the equity invested at cost. Our AUM for the reporting year ending the 31st March 2019 was €310m.  Including non-recourse debt of €391m for this same period, the total amount invested was €701m.  A summary and forecast of NTR's histroic AUM is broken down as follows:

________________________________________________________________________________________________________________________________________

Fund:                                            Status                                    Fund Element                              Y/E Mar 2018                  Y/E Mar 2019                 Forecast Y/E Mar 2020

NTR Wind 1 LP Fund 1                 Closed to Investors                AUM (Equity]                                      €203.5m                           €210.5m                            €206.8m

                                                                                                     Project Non-Recourse Debt:              €313.0m                           €308.5m                            €328.9m     

                                                                                                     Total (Fund 1):                                  €515.5m                          €519.0m                             €535.7m

________________________________________________________________________________________________________________________________________

Fund:                                            Status                                    Fund Element                               Y/E Mar 2018                  Y/E Mar 2019               Forecast Y/E Mar 2020

NTR Renewable Energy             Open to Investors                      AUM (Equity]                                      €0.0m                              €  99.5m                            €107.3m

Income Fund II                                                                              Project Non-Recourse Debt:              €0.0m                              €  82.3m                            €127.0m

                                                                                                      Total (Fund II):                                  €0.0m                              €181.8m                            €234.3m

_______________________________________________________________________________________________________________________________________

Fund:                                            Status                                    Fund Element                               Y/E Mar 2018                  Y/E Mar 2019               Forecast Y/E Mar 2020

Cumulative Funds                                                                         AUM (Equity]                                      €203.5m                              €310.0m                          €314.1m

                                                                                                      Project Non-Recourse Debt:              €313.0m                              €390.9m                          €455.9m

                                                                                                      Total (Cumulative):                          €516.5m                             €700.8m                          €770.0m

__________________________________________________________________________________________________________________________________

Non-Recourse debt includes Term Loan facilities only and assumes an exchange rate of GBP:EUR 0.85


OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 0 0 0 0
Fixed income 0 0 0 0
Private equity 0 0 0 0
Property 0 0 0 0
Infrastructure >50% 100 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 0 0
Money market instruments 0 0 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

NTR’s funds’ asset class is 100% Infrastructure specifically focused on renewable energy assets (on-shore wind, solar and energy storage in Ireland, UK and Western Europe), using a combination of equity and non-recourse debt funding.

 

NTR does not use fiduciary managers, 100% of our assets are managed internally.


OO 07. Fixed income AUM breakdown (Not Applicable)


OO 08. Segregated mandates or pooled funds (Not Applicable)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

100 Developed Markets
0 Emerging Markets
0 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

As mandated by our funds’ investment strategies, all our AUM are in the developed markets of Ireland, UK, Western Europe and the Nordic countries..


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